Panattoni to speculatively develop three net carbon zero warehouses at key M3 corridor location
Panattoni and Legal & General’s Industrial Property Investment Fund (IPIF) have announced the purchase of land in Basingstoke, Panattoni’s second M3 corridor development programme in just under a month.
The 11-acre site will accommodate three net carbon zero warehouses of 40,209 sq ft, 77,548 sq ft and 96,302 sq ft. The Park is located within an already established industrial area with strong public transport links and amenities.
V Park is only two miles from both the centre of Basingstoke and J6 of the M3 motorway. It is well positioned on a pre-existing motorway access infrastructure route to take advantage of regional axis routes including the M25, A34, M27 and M4. It also has two million people living within 45 minutes by van. Almost 60% of the UK is accessible within a 4.5-hour HGV journey, offering the ability for delivery companies to reach millions of customers the same day.
Oliver Bertram, Development Director at Panattoni, said: “This location has excellent links to the M3 corridor which serves Europe’s largest consumer market. We are proud to start this new development which we believe will be in high demand. The Park is committed to deliver sustainable and future-proofed net carbon zero units allowing our tenants to benefit from the efficiency.
“V Park Basingstoke is being delivered at speed and we are looking forward to completing these ready for occupation by the end of Q2 2022. Demolition of the former Motorola factory is set to start in June this year. Once completed, the facilities could generate over 215 full time jobs.”
Jonathan Holland, Senior Fund Manager of IPIF at LGIM Real Assets, said: “This new acquisition forms part of our investment strategy adding to our London and South East portfolio. With high demand in this strategically important location from eCommerce and last-mile occupiers, we believe this will be an excellent long-term opportunity.”
The buildings will benefit from a high standard specification, harnessing net carbon zero (NZC) technology to prioritise energy efficiency and reduce operating costs. The buildings will be built to a BREEAM rating of ‘Very Good’, with many sustainable credentials and an EPC rating of ‘A’. The buildings are designed to promote energy efficient and low carbon operation, with 100% LED sensored lighting, 15% roof lights and extensive electric vehicle charging points. The units comprise:
– Unit 1 will have a total of 40,209 sq ft, with 12.5m clear internal height, 2 dock doors, 3 level access doors, 30 car parking spaces and 5 HGV trailer spaces.
– Unit 2 will have a total of 77,548 sq ft, with 12.5m clear internal height, 8 dock doors, 2 level access doors and space for 57 cars and 22 HGV trailers.
– Unit 3 will total 96,302 sq ft, with 12.5m clear internal height, 8 dock doors, 3 level access doors and space for 72 cars and 28 HGVs.
The agents for the scheme are CBRE and Cushman & Wakefield.
For more details, visit this link.